The GM Strike Might have Cost over $1 Billion so Far

The workers who are on strike at General Motors Co are in their third week. It's been reported that this has already cost the carmaker $1 billion. Brinkman has stated that the GM might be able to recover a lot of the profits that have been lost by shifting the production from the third quarter to the fourth. The GM is estimated to be losing $82 million in potential profit, every single day that the strikes are happening.

In the second week, a lot of the GM's North American team were offline and the strike ultimately meant that the carmaker lost out on $575 million. Brinkman has also stated that the profit losses were less in the first week as they only had to shut down the Canadian and Mexican lines. Brinkman has stated that the Axle Manufacturing and Holdings Company have been hit the hardest. Cash impact is going to bite away at the GM but this is probably not going to be until the fourth quarter. The analyst wrote that the suppliers are paid by the automakers after 60 days so there is a chance that they won't feel the impact of the strike until the fourth quarter. Of course, those who work in driver recruitment Ireland or even in a driving agency Ireland will probably understand what a dire situation this could be, but so far things look to be under control.

Driving jobs Ireland could be impacted to some extent but the extent of this probably won't go on to affect the industry as a whole. It will be localised to the carmaker and the companies that are in connection with them. Only time will tell if the required changes are going to be made, but right now, things aren't looking to be going anywhere.

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